India's PNC Infratech rises on financial closure for $98 mln project

PNC Infratech

26/12/2023 06:52

** Shares of PNC Infratech  PNCI.NS  rise as much as 4% to
359 rupees, currently trading 3.2% higher
    ** The infrastructure construction co said late on Friday it
achieved financial closure for a highway project of 8.19 bln
rupees ($98.48 mln)
    ** Stock set to rise for a third straight session, if gains
hold
    ** PNCI rose for six straight weeks, gaining 9.3% during the
period
    ** Trading vol is 1.4x the 30-day daily avg, tops 750,000
for the fourth time in Dec, and fifth time in three months
    ** Avg rating of the 14 analysts on PNCI is "strong buy" and
median PT is 432 rupees - LSEG data
    ** Stock extends YTD gains to ~24%, on track to rise for
third straight year




($1 = 83.1640 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))